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Nov 1, 2012
11/12
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>> john, thank you. >>> let's move from sandy and the road to recovery. baby steps i'm afraid still being taken in the city of new york today, including reports that manhattan power may be back online during the course of the weekend. until then, things appear to be getting tense. our senior correspondent scott cohn joins me now from lower manhattan. scott, i just heard firsthand that some residential buildings are now hiring armed guards because of the type of threat that they have faced from people attempting to loot as, of course, the police make those very regular trips during the night. >> reporter: that's entirely possible, simon. i haven't seen that directly, but i believe it. i want to give you a sense of some of what's going on here in lower manhattan. we're at the corner of maiden lane and water street. you didn't see it behind me because there is a beautifully timed bus here. but behind me is the aig headquarters. you may remember that from the bailout. takes a whole different form now. there's a chase bank branch there under water. it was unde
>> john, thank you. >>> let's move from sandy and the road to recovery. baby steps i'm afraid still being taken in the city of new york today, including reports that manhattan power may be back online during the course of the weekend. until then, things appear to be getting tense. our senior correspondent scott cohn joins me now from lower manhattan. scott, i just heard firsthand that some residential buildings are now hiring armed guards because of the type of threat that they...
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Oct 30, 2012
10/12
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great to have you with us once again, john. very quickly, give us your assessment of the situation with the refineries, how quickly they can come back online what happened it means for gas prices. >> well, in the first instance this is a pretty big storm. we will have to check closely for any damage. the northeastern and the middle atlantic refineries are some of the oldest in the country. you have got old infrastructure so it's more vulnerable, so you want to check it ever more closely. i thought sharon did a good job describing what it takes to bring it back up so, that's the first issue. the second, you got to check the port, the northeast, the middle atlantic, very dependent upon both finnished product imports as well as crude oil imports. if the ports are damaged by that sea surge, you are looking a what the ever time it takens to repair, how you offload finished product or crude. more importantly, and this gets to the issue of price, what happens in the distribution and retail network? if you have gas stations with no ele
great to have you with us once again, john. very quickly, give us your assessment of the situation with the refineries, how quickly they can come back online what happened it means for gas prices. >> well, in the first instance this is a pretty big storm. we will have to check closely for any damage. the northeastern and the middle atlantic refineries are some of the oldest in the country. you have got old infrastructure so it's more vulnerable, so you want to check it ever more closely....
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Nov 1, 2012
11/12
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so here now, jack fer rouge i don't know, john silvia. i want to get your take on this sandy factor and the stock market. >> i think sandy is a temporary story, but the way i think christie and other governors and mayors really pitched in suggests that we'll get through this fairly quickly and there will be serious commitments in terms of infrastructure and improvements. and i'll reemphasize your point. chinese purchasing survey was a little improved and you're right, if the purchasing manager survey in the u.s. is a little better as was consumer confidence. >> jack, what do you think, is sandy a big driver for stocks or is it the coming election and the possible outcome? >> i think it's one that you have a lot of underinvested what i call nonbelievers. i think we're entering the period of chasing returns. first of november i think we started since '09 where it's been up. which is indicative of what the next couple of months will bring. having said that, sandy will produce jobs. the question is will sandy produce more jobs than president
so here now, jack fer rouge i don't know, john silvia. i want to get your take on this sandy factor and the stock market. >> i think sandy is a temporary story, but the way i think christie and other governors and mayors really pitched in suggests that we'll get through this fairly quickly and there will be serious commitments in terms of infrastructure and improvements. and i'll reemphasize your point. chinese purchasing survey was a little improved and you're right, if the purchasing...
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Oct 29, 2012
10/12
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also, john browett, who has been hired to head up retail, he is out. now, that's interesting because apple had taken some heat important the way it had been handling retail recently. employees of the retail stores have posted on sites like iso apple, apple store, about the way that apple was cutting back on hours and were some -- they were disgruntled on that scale. br browett had come from a european retailer that -- that was known for being a little more bust buy reich as opposed to apple store-like in the way that it ran things. then you have also -- bob mansfield who has been the head of hardware. and initially apple said he was going retour. then is he heed no, he's coming back in an advisory role to tim cook. in this new structure, he will lead a new group called technology that's going to include the chip development organization, that's particularly important because you see apple constantly coming out with new custom made chips in the ipad. inside the iphone, key, point of differentiation for them. bob will be in charge of that as well as wire
also, john browett, who has been hired to head up retail, he is out. now, that's interesting because apple had taken some heat important the way it had been handling retail recently. employees of the retail stores have posted on sites like iso apple, apple store, about the way that apple was cutting back on hours and were some -- they were disgruntled on that scale. br browett had come from a european retailer that -- that was known for being a little more bust buy reich as opposed to apple...
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Oct 31, 2012
10/12
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johni john, do you think that the spike we've seen in gas futures is warranted dr i do understand lots of people lining up to fill up their cars, but overall considering the expected demand construction, is it warranted? >> this spike in gasoline is also exclusively to the fact that it is expiration day and a lot of people got short. you can look at that front month and kind of ignore it. i don't really understand that gasoline is surging today actually in some of the outer months and heating oil is not. distillate inventories in the northeast are incredibly low. very, very low. like historically low and they have not moved. this doesn't really make a lot of sense. the other thing i would say, the physical market, the differential against the nymex price has not moved up ktoday. i think that's showing some of the physical traders are leaning a little more toward the demand destruction side winning. i'm very glad to hear that delivery came from holtsville. that's a major terminal. i did hear earlier that that's open. it is terminals right now, not refineries that are the big problem. ma
johni john, do you think that the spike we've seen in gas futures is warranted dr i do understand lots of people lining up to fill up their cars, but overall considering the expected demand construction, is it warranted? >> this spike in gasoline is also exclusively to the fact that it is expiration day and a lot of people got short. you can look at that front month and kind of ignore it. i don't really understand that gasoline is surging today actually in some of the outer months and...
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Nov 2, 2012
11/12
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john harwood in washington. the search for gasoline still one of the biggest issues in the northeast after sandy. look at these lines. they are long, in some cases more than a mile. supply is low. demand is high. that could change after the secretary, secretary napolitano, now allowing more oil tankers into the harbors around here. we'll go live to a gas station in new jersey to get a check on the situation there next. [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they help save you up to thousands in out-of-pocket costs. call today to request a free decision guide. with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a sp
john harwood in washington. the search for gasoline still one of the biggest issues in the northeast after sandy. look at these lines. they are long, in some cases more than a mile. supply is low. demand is high. that could change after the secretary, secretary napolitano, now allowing more oil tankers into the harbors around here. we'll go live to a gas station in new jersey to get a check on the situation there next. [ male announcer ] eligible for medicare? that's a good thing, but it...
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Oct 31, 2012
10/12
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john, i want to ask you, i've been reading in the newspapers -- you correct me if i'm wrong. your superpack and other republican super packs have put $4 million into pennsylvania. team obama, only $625,000. for $4 million, jonathan, you want a rate of return better than a utility executive. you want to actually win the race in that state. >> we wouldn't be spending the money if we didn't think that there were real opportunities in michigan, pennsylvania, and minnesota, as well as wisconsin. the real measure here of that's going on, you go back to that politico george washington university poll, the most recent one. there was a 13-point advantage for republicans in voter intensity, in voter enthusiasm. that's what's driving this. you don't get within three points in minnesota or pennsylvania on a whim. there's a real momentum toward romney here. that's why the money is coming in. that's why obama is really playing hard defense right now. >> larry, two things to watch in pennsylvania. in the west, you have the coal country. they're very irritated about the obama administration'
john, i want to ask you, i've been reading in the newspapers -- you correct me if i'm wrong. your superpack and other republican super packs have put $4 million into pennsylvania. team obama, only $625,000. for $4 million, jonathan, you want a rate of return better than a utility executive. you want to actually win the race in that state. >> we wouldn't be spending the money if we didn't think that there were real opportunities in michigan, pennsylvania, and minnesota, as well as...
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Oct 29, 2012
10/12
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officials who worked this weekend in going door to door with the message to evacuate and particularly to john raya and all his staff at nitra. i don't think anybody could have done more to give people notice and advice how to protect themselves. we stressed all along for people living in zone "a" the first option should be finding a safe place to stay with relative or friends. however, we have also opened 76 emergency shelters in city public schools for those who did not have that option. they are still -- >> that is yor mayor mike bloomberg. the headline essentially that he is closing new york city schools for the second day saying there is, quote, no chance that mass transit will be ready to get people to and from work or school around the city. saying the fdr highway is fundamentally closed in his words. looks like the storm surge according to the mayor will hit at least in the new york city area around -- starting around 8:00 or 8:15 p.m. tonight. he's looking for storm surge between 6:00 and 11:00 p.m. jim, obviously we're not a local channel. our news goes around all of the country and
officials who worked this weekend in going door to door with the message to evacuate and particularly to john raya and all his staff at nitra. i don't think anybody could have done more to give people notice and advice how to protect themselves. we stressed all along for people living in zone "a" the first option should be finding a safe place to stay with relative or friends. however, we have also opened 76 emergency shelters in city public schools for those who did not have that...
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Nov 1, 2012
11/12
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i'm joined now by john woods who's the president of j.j. woods and associates, a veteran trader on the floor. we have above average storage levels for this time of year, we have reduced demand because of hurricane sandy and then we have the winter coming, so how do you play this? >> we have a market that is offline. you had a bullish number that was a little bit below what we thought, we saw 68, 70, 65. i think we're going to go back down to 350. >> you said that before this happened before hurricane sandy, you thought that natural gas might be on its way to $4 even it would be there today. >> all things being equal, if we didn't have this tragedy, it would be at $4. you're having increased demand, you're starting to see some weather patterns coming this. >> there is still a lot of natural gas out there, i mean how cold does it have to get? are you anticipating and do the models show you that it's going to be a very cold winter? >> even if it does show there's a cold winter, do the reverse last summer. hottest on record. my thought is maybe
i'm joined now by john woods who's the president of j.j. woods and associates, a veteran trader on the floor. we have above average storage levels for this time of year, we have reduced demand because of hurricane sandy and then we have the winter coming, so how do you play this? >> we have a market that is offline. you had a bullish number that was a little bit below what we thought, we saw 68, 70, 65. i think we're going to go back down to 350. >> you said that before this...
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Oct 30, 2012
10/12
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we do have a very big show tonight on "fast," the full trader panel, tony thompson, papa john on the disruptions, howard mills of deloitte insurance industry group to tell us about the impact of the insurance industry, whether or not the industry will be able to pass through and get through rate increases which would be good for shareholders, of course, bad for consumers. we do have the latest on the air travel disruptions that phil was talking about. in fact, the ceo of jetblue airlines in a fa"fast" exclusiv. good to see you, si we'll resume tomorrow. hopefully stocks will trade. meantime, carl and jim over to you for more storm coverage on "squawk on the street." >> thanks. latest on the aftermath of the storm. mandy drury has all the details on that in a moment. hey, mandy, you are ready. >> i'm here. let me give you some of the stats here that we know so far. carl, at least 16 people are dead after sandy came barreling through the east coast and obviously everyone woke up this morning and saw that the damage was severe n.queens, for example, a six-alarm fire engulfed blocks of h
we do have a very big show tonight on "fast," the full trader panel, tony thompson, papa john on the disruptions, howard mills of deloitte insurance industry group to tell us about the impact of the insurance industry, whether or not the industry will be able to pass through and get through rate increases which would be good for shareholders, of course, bad for consumers. we do have the latest on the air travel disruptions that phil was talking about. in fact, the ceo of jetblue...
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Oct 30, 2012
10/12
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i was talking to someone at johns hop kins they look at past storms and basically estimating. that's all they can do until they have a better sense of what's happening. >> dennis gartman we talked to him earlier and said the estimates come in low are than expected. seems like the storm surge was so much worse than people anticipated. >> that's a good point, looking at past storms as well katrina is obviously one that's on the radar. they are able to pinpoint a little bit better than they have in the past and get a better sense of what's going on. we have to look at the specific states, what people are dealing with, what the flood also damage is going to be because that's going to change the number materially as well. >> we spoke with one analyst, an insurance analyst who suggested in this situation maybe half of the losses are uninsured losses because flood damage would be so much of the losses that come in, and flood damage isn't covered by regular homeowners' insurance. >> exactly right. i was talking to business owners in the local community here saying the same thing. at t
i was talking to someone at johns hop kins they look at past storms and basically estimating. that's all they can do until they have a better sense of what's happening. >> dennis gartman we talked to him earlier and said the estimates come in low are than expected. seems like the storm surge was so much worse than people anticipated. >> that's a good point, looking at past storms as well katrina is obviously one that's on the radar. they are able to pinpoint a little bit better than...